Marketers distributed 25 million litres of Dangote diesel.
In less than three months after the Dangote Petroleum Refinery began releasing AGO to the market, independent marketers have lifted and dispersed more than 25 million litres of Automotive Gas Oil, also known as diesel.
It was also reported on Saturday that the registration of oil marketers with the $20 billion corporation was still proceeding, as additional dealers registered with the plant ahead of the factory’s preparedness to launch Premium Motor Spirit, better known as petrol, into the domestic market in July.
Marketers are also prepared to start PMS distribution from the factory.
The Independent Petroleum Marketers Association of Nigeria, the Major Energies Marketers Association of Nigeria, and the Petroleum Products Retail Outlets Owners Association of Nigeria all acknowledged that their members have registered with the Lagos-based refinery.
They also stated that diesel continues to be lifted from the facility, adding that this has steadied the commodity’s price and ensured enough supply since production began in March of this year.
Diesel prices fell from around N1,800/litre to N1,200/litre after Dangote refinery released the product into the Nigerian market in late March 2024, and its availability has since been guaranteed throughout the country.
Commenting on the stability of diesel prices and availability since Dangote began production, as well as the registration of marketers with the refinery, IPMAN’s National Public Relations Officer, Chief Ukadike Chinedu, told our correspondent that IPMAN members had distributed over 25 million litres of AGO from the plant across the country.
“Independent marketers are registering with Dangote, and several of us have taken a large quantity of merchandise from Dangote’s storage. I am aware of many marketers who have registered with the Dangote refinery.
“I can also confirm that independent marketers have loaded over 25 million litres of diesel since the refinery started the domestic sale of diesel to downstream oil sector operators in Nigeria,” Ukadike said.
On April 2, 2024, oil marketers announced that the Dangote refinery began selling diesel to the domestic market.
Dealers and facility officials acknowledged the information at the time, explaining that diesel sales had begun the previous week.
“They’ve been pumping out diesel to merchants since last week. They also pledged to sell aviation fuel soon. “Some of my members confirmed this to me after making a purchase,” Abubakar Maigandi, National President of IPMAN, told our correspondent at the time.
Maigandi also predicted that Dangote’s decision would cause a drop in diesel prices, which had reached a high of around N1,700/litre at the time.
“The flow of products from the Dangote Refinery will lead the price of diesel to plummet. “In fact, it is already falling in Lagos,” Maigandi said.
This happened after Dangote reduced diesel prices to N1,200 per litre.
Although Dangote refinery officials have stayed mute on matters concerning the facility, dealers indicated on Saturday that marketers were eagerly expecting the delivery of fuel from the plant, in the belief that this would lower the price of the product.
“Marketers are loading more products from the plant and are eager to begin the lifting of PMS from the refinery, since the Chairman of the group has said that PMS should hit the market in July,” Ukadike added.
He went on to say, “It’s good to know that PMS is being completed for release from that plant. This is because, since Dangote diesel entered the market, the price of diesel has remained below N1,200 per litre.
“Even in far-flung northern states, independent traders sell diesel at the pump for N1,200 per litre. So the arrival of Dangote has reduced the increasing price of diesel. We are now expecting PMS by July, which will mean the end of petroleum product imports.